8 hours ago
5026
After about a day of public outrage over its alleged business practices, MEXC has begun what looks like a full-scale reset, one launched by the same critic who nearly tore it down.
White Whale, the anonymous account that helped expose MEXC’s frozen funds crisis, is now stepping in to help reform the exchange, not as a paid contractor, but as an unpaid advisor.
The development came after MEXC executive Cecilia Hsueh publicly apologized to White Whale over the mishandling of his account, which triggered a widespread thread from X user Mystral accusing MEXC of allegedly freezing millions in user funds and engaging in sexual relations with one another.
Behind the scenes, Cecilia and the White Whale had held a one-hour video call, and what came next was even more unexpected: White Whale offered to support the exchange’s turnaround efforts, despite having helped lead the campaign that damaged its credibility.
“My offer… was sincere,” White Whale shared on X. “If you truly want to fix what was broken—I’ll support you.” He offered to join MEXC’s effort with no compensation, citing his experience building and managing platforms. “A better MEXC only improves crypto as a whole,” he added.
Cecilia accepted the offer publicly: “We’d be more than happy to have you onboard as an advisor,” she replied. “We’re genuinely grateful for the push you gave us, it became the catalyst for MEXC’s transformation.”
She also acknowledged their “rounds of back and forth,” but said both sides now share the same goal.
Execs respond to sex rumor fallout, launch fund recovery channel
As for the viral thread’s alleged orgy videos involving MEXC executives, Cecilia responded directly, saying: “People enjoy tearing women down by inventing sexual rumors. It’s pathetic.”
White Whale publicly backed her, saying: “She is not the woman in the video.” He criticized users who sent him the leaked clip, stating, “Right is right and wrong is wrong… truth still matters.” The defense earned Cecilia’s praise: “Thanks for speaking up and having the integrity to say the truth.”
Meanwhile, MEXC has also launched new recovery channels for frozen funds, admitting the “most frustration” came from MEXC’s internal risk control system. “If your account has been frozen, we’ve opened two fast-track channels and streamlined the unfreezing process,” she wrote, linking support head Derrick Yeo’s Twitter and Telegram.
The announcement racked up over 433,000 views, followed by another update 17 hours later: “Users who provided the required info have been unfrozen in batches,” she said. She asked for patience, clarifying that Telegram support was overloaded, and Twitter DMs were the preferred channel going forward.
Max Lee case triggers friction with MEXC leadership
One major flashpoint has been the situation of Maxuel (Max) Lee, a trader who posted screenshots showing over $3.3 million USDT locked in his account for 20 days, with five failed withdrawal attempts between October 11–13.
Cecilia pushed back against the claims, saying Max never responded to earlier requests for UID verification. “We found no such account with this amount frozen,” she wrote. “Our CS team and I have both asked him to provide UID, but there has been no reply until now. If we were wrong and you really have this issue, my dm is open.” She also added, “Spreading rumors won’t help.”
Max’s post had originally said, “At first, I genuinely believed it was a bug or system error. But now, I’ve been told my account had ‘abnormal profit.’ No proof. Just frozen forever.”
Earlier, Cecilia claimed that:- “In the past 17 hours, users who provided the required info have been unfrozen in batches. Our support and risk teams are working nonstop, please have some patience.”
Join Bybit now and claim a $50 bonus in minutes
English (US)